London & Colonial History
The Company first started life back in 1988, as London & Colonial Trustees Limited, having initially been formed to provide services for SSASs. Specialist consultancy services to pension industry professionals followed, in the form of technical analysis and training, literature and documentation drafting, as well as expert witness provision and third party administration services.
Then in 1995, Ken Wrench and Robin Ellison established London & Colonial Services Limited, to offer SIPPs, and (wholesale) SIPP related services, to SIPP retailers. This subsequently led to NPI becoming the first company to offer a branded version of our SIPP, and for whom all of the necessary functions, apart from that of the role of Provider, were also carried out by the company in-house.
In 2001 London & Colonial Holdings Limited was formed with a view to raising the capital required for the formation of a new Insurance Company. This new insurer, London & Colonial Assurance PLC, commenced trading in March of 2002.
Gibraltar based in order to enable the use of the corporate “cell” structure recognised within that jurisdiction; the Company developed and launched an investment linked decumulation product – the Open Annuity.
Having been ‘passported’ into the UK under the relevant EU provisions, and subsequently administered and marketed to IFAs by London & Colonial Services Limited under sub-contracting agreements, the Open Annuity proved to be exceptionally successful – even beating the likes of Prudential in terms of premiums received, in the months leading up to 6 April 2006.
The new rules and legislation relating to pensions, which came into effect from that date, left most pension and annuity products requiring modifications. As a result of the new legislation the Open Annuity was no longer offered, but was quickly replaced by the New Open Annuity.
October 2008 saw the various companies within the group brought into common ownership under London & Colonial Holdings Limited, who now own 100% of each of the companies within the group.
Current offerings from London & Colonial include:
- Simple Investment SIPP
- Multi-Platform Open Annuity
- Multi-Platform International Open Pension (QROPS)
- Open Pension (SIPP)
- New Open Annuity
- International Open Pension (QROPS)
- EU SIPP (QNUPS)
- EU Open Annuity
And our soon to be launched
- Multi-Platform EU SIPP (QNUPS)
London and Colonial are continually developing innovative and exciting new products, the latest of which are soon to be launched...so watch this space!